Contribution of Working Capital Management on Financial Performance of Selected Consumer Goods in Nigeria Industry

This study examined impact of Working capital management on the financial performance of selected consumer goods firms listed on the Nigerian stock exchange. The study employed ex post facto research design and used 10 selected consumer goods firms. The impact of independent variable proxies as current ratio, cash conversion cycle and inventory turnover on dependent variable proxy as earnings per share. Pooled data were collected from published annual report of the selected firms from 2011- 2021 and analyzed using OLS. Specifically the study sought to determine the impact of current assets ratio, cash conversion cycle and inventory turnover on earning per share of the selected consumer goods firms listed on the Nigerian stock exchange with R- squared of 75.79%, Adjusted R-squared of 74.34% and  P- Value of 0.4943 > 0.05). Adjusted R-squared of 74.34% and P-value of 0.001 0.05). Inventory turnover ratio has significant impact on the earnings per share of the selected firms with R- squared of  75.79% , Adjusted  R-squared of 74.43% and  P-value of 0.0002< 0.05). The finding of the study revealed that Current ratio has insignificant impact on the earnings per share EPS of selected firm it is recommended that for the purpose of maximizing earnings per share, managements should pay attention to quick ratio and inventory turnover ratio as they influenced financial performance.